Dublin, Aug. 08, 2023 (GLOBE NEWSWIRE) -- The "US Vision Care Market: Analysis, Trends and Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The report offers a comprehensive analysis of the vision care market in the United States.
Key Highlights of the Report:
- Vision Care Overview: The report explains the concept of vision care, which includes products and services aimed at maintaining and improving the quality and functioning of the eyes. Vision care products include glass lenses, contact lenses, contact solutions, artificial tears, and more. Vision care treatment solutions include ointments, drops, pills, and surgeries.
- Market Value and Forecast: The US vision care market was valued at US$24.35 billion in 2022, and it is projected to grow to US$33.40 billion by 2028.
- Growth Drivers: Various factors contribute to the growth of the US vision care market, such as increasing electronic devices and media usage time, rising cases of diabetes, adoption of electronic devices among different age groups, wide availability of vision care products through various distribution channels, increasing sedentary lifestyle, and rising prevalence of vision-related ailments.
- Market Segmentation Analysis:
- By Product: The market is divided into four segments - prescription glasses, contact lens, intraocular lens, and others. The prescription glasses segment is the largest and fastest-growing due to increasing cases of myopia and hyperopia, demand for stylish eye frames, and benefits like cost-effectiveness and low risk of eye infections.
- By Distribution Channel: The market is segmented into retail stores, e-commerce, clinics, and hospitals. Retail stores are the largest segment, offering immediate purchasing experience and personalized assistance to customers. E-commerce is the fastest-growing segment, driven by increasing internet penetration and benefits like discounts and home delivery.
- Growth Drivers: Increasing electronic devices usage, growing geriatric population, expanding retail e-commerce, and supportive government policies.
- Challenges: Eye infections due to contact lenses, constraints on business practices, and the presence of counterfeit products.
- Trends: Integration of artificial intelligence (AI) and machine learning (ML), ongoing advancements in vision care, growing awareness of UV rays related visual impairment, increasing number of product launches, and a shift towards daily disposable contact lenses.
- Competitive Landscape: The US vision care market is relatively fragmented, with many regional and local players. The top 10 players account for nearly 40% of sales, and the top 50 players are responsible for just under half of total sales. Key players in the market include Alcon Inc., ZEISS Group, EssilorLuxottica SA, Johnson & Johnson Inc., HOYA Corporation, Bausch + Lomb Incorporated, Cooper Companies Inc., Menicon Co., Ltd., National Vision Holdings, Inc., and Rayner Group.
The report provides valuable insights into the US vision care market, its growth drivers, challenges, and trends. It also includes a competitive landscape with profiles of key players in the industry.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 90 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $25.67 Billion |
| Forecasted Market Value (USD) by 2028 | $33.4 Billion |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | United States |
For more information about this report visit https://www.researchandmarkets.com/r/zh69oa
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